S.No.1 IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – 1 VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

17-04-2026 AT 11:30 AM CP(IB) No. 407/7/HDB/2019 AND IA (IBC) 1003/2025 in CP(IB) No. 407/7/HDB/2019 u/s. 7 of IBC, 2016 IN THE MATTER OF:

ICICI Bank Ltd …Financial Creditor AND MBS Impex Pvt Ltd …Corporate Debtor C O R A M:-

SH. RAJEEV BHARDWAJ, HON’BLE MEMBER (JUDICIAL)

SH. SANJAY PURI, HON’BLE MEMBER (TECHNICAL)

O R D E R IA (IBC) 1003/2025 Present: Mr. G Bhupesh, Ld. Counsel for the Applicant.

Orders pronounced, recorded vide separate sheets.

In the result, this application is allowed and disposed of.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Sridher/siva NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH-1 CP(IB) No. 407/7/HDB/2019 Application u/s 60(5) of IBC, 2016 IN THE MATTER OF M/S MBS IMPEX PRIVATE LIMITED Between Mr. Santosh Bhatia Liquidator of M/s MBS Impex Private Limited …APPLICANT/

VERSUS LIQUIDATOR

1 . M/s MBS Impex Private Limited Represented by Mr. Santosh Bhatia, L iquidator

2. RARE Assets Reconstruction Limited 1 04-106, Gala Argos, Bs, Harikapura Tower Gujrat College Road, Ellisbridge, Ahmedabad – 380006

3. INVENT Assets Securitisation & Recons truction Pvt Ltd Suit-B, Ground Floor, Bakhtawar Ground Floor

225, Nariman Poin t, Mumbai – 400021

4. AXIS Bank Limited Structured Assets Group-South st Axis House, Chennai, 1 Floor No.3 Club House Road, Ann a Salai, Chennai- 600002

5 . Punjab National Ba nk Head Office, Plot No.4 Dwaraka Sector-10 New Delhi – 110075 CP(IB) No. 407/7/HDB/20129 DOO: 17.04.2026

6 . State Bank of India (U nsecured Financial Creditor)

SBI Buildings, Bank street, Koti Hyderabad – 500095

7 . MMTC Limited (Operational Credit or)

rd

9-1-76 to 77/1/B, 3 Floor S.D. Road, Secunderabad – 500003

8 . Commercial Tax Department (operational Cr edi tor)

Telangana CT Complex, Nampally, Hyderabad - 500001 Respondents Date of order__________

Coram S hri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Shri Sanjay P uri, Hon’ble Member (Technical)

Appearance:

For Applicant: Mr G. Bhupesh, Advocate For Respondent-2: Mr. Dishit Bhattachrjee & Ms. Sanjana Proddutoori, Advocates For Respondent-7: Ms. Ankita Sha rma & Mr. Aslam Ahmed, Advocates

O R D E R

1. This Application is filed by the Liquidator of M/s MBS Impex Private Limited, seeking directions to Respondents to pay the Liquidator fees and to reimburse an amount of Rs. 26,81,850/-.

CP(IB) No. 407/7/HDB/20139 DOO: 17.04.2026

2. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 13.11.2019.

3. It is alleged that during the CIRP, the suspended Board of Directors failed to cooperate by not handing over books of accounts, statutory records, or details of assets, despite specific directions of this Tribunal in orders dated 13.10.2020 and 16.09.2022. It is further stated that although the Balance Sheet for 2018–19 reflected substantial stock, the same was not traceable at the registered office or other premises.

4. Subsequently, vide order dated 01.03.2022, the Corporate Debtor was ordered to be liquidated and the Applicant was appointed as Liquidator.

5. The Applicant submits that he has undertaken extensive steps in the conduct of the liquidation process, including tracing and securing assets, initiating proceedings against the suspended Board for non- cooperation, and addressing issues arising from non-relinquishment of security interests by Financial Creditors. In this regard:

(a) The Liquidator initiated legal proceedings against the suspended Board of Directors on account of their continued non-cooperation and failure to comply with the directions of this Tribunal. In this regard, appropriate applications were filed seeking permission to initiate criminal action as well as contempt proceedings for non-compliance with judicial orders.

CP(IB) No. 407/7/HDB/20149 DOO: 17.04.2026 (b) It is submitted that the Financial Creditors have failed to relinquish their security interests to the liquidation estate in terms of the app